Ryerson Holding Corp. (RYI) Shares Up 2.3%
Shares of Ryerson Holding Corp. (NYSE:RYI) shot up 2.3% during trading on Thursday . The stock traded as high as $19.62 and last traded at $19.37, with a volume of 195,532 shares. The stock had previously closed at $18.94.
A number of equities analysts have issued reports on RYI shares. JPMorgan Chase & Co. increased their price target on Ryerson Holding Corp. from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 19th. Jefferies Group reiterated a “hold” rating and set a $14.50 price target (up previously from $10.00) on shares of Ryerson Holding Corp. in a research report on Friday, June 10th. Finally, Zacks Investment Research upgraded Ryerson Holding Corp. from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a research report on Friday, May 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $9.25.
The stock has a market cap of $607.63 million and a price-to-earnings ratio of 39.44. The firm’s 50-day moving average is $16.11 and its 200-day moving average is $8.36.
Ryerson Holding Corp. (NYSE:RYI) last posted its earnings results on Thursday, May 5th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.23. The firm earned $702.60 million during the quarter, compared to analysts’ expectations of $717.57 million. The firm’s revenue for the quarter was down 19.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. Analysts expect that Ryerson Holding Corp. will post $1.34 EPS for the current year.
A hedge fund recently raised its stake in Ryerson Holding Corp. stock. Towle & Co. boosted its stake in shares of Ryerson Holding Corp. (NYSE:RYI) by 49.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,646,655 shares of the company’s stock after buying an additional 874,902 shares during the period. Ryerson Holding Corp. comprises about 2.7% of Towle & Co.’s investment portfolio, making the stock its 20th largest position. Towle & Co. owned 8.25% of Ryerson Holding Corp. worth $12,360,000 as of its most recent SEC filing.
Ryerson Holding Corporation (Ryerson Holding) is a service center company for carbon and stainless steel, as well as aluminum. The Company processes and distributes a full line of over 70,000 products in stainless steel, aluminum, carbon steel and alloy steels, and a limited line of nickel and red metals in various shapes and forms.
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